The significance of the emerging markets in the global listed property securities sector

The emerging property markets have taken on increased significance with international property investors in recent years. This paper assesses the risk-adjusted performance and diversification benefits of listed property securities in the emerging markets over 2005-2013. This is benchmarked with the performance of listed property securities in the developed markets, shares and bonds, with this being done in a global context as well as in a regional context for Asia-Pacific, Europe, Americas and the Middle East/Africa. To understand the investment dynamics over 2005-2013, this is also considered in a pre-GFC and post-GFC sub-period context. The strategic implications for the role of the emerging markets for listed property securities investors are also highlighted.